Property

Real estate transactions in Ajman hit $2.4 billion in 2020

The largest deal conducted in Ajman in 2020 was valued at $39 million

The Department of Land and Real Estate Regulation in Ajman has highlighted the emirate’s stable performance of its real estate market, noting that transactions in 2020 totalled $2.4 billion.

According to a report by WAM, deputy director-general of the Department, Nasser Al Marzouqi, said that Ajman’s real estate sector has maintained its positive performance, due to the proactive measures taken by the Ajman Government that reduced the impact of the coronavirus pandemic.

Real estate investments in the previous year were estimated to be some $1.2 billion, with investments by citizens totalling $626.1 million and foreign investments accounting for $571.7 million, Al Marzouqi added, noting that investments by GCC citizens totalled $38.9 million.

The largest deal in 2020 was conducted in Zahya District in the Eastern Sector valued at $39 million, and the largest mortgage was valued at $127 million in Al Jurf 1 District, Al Marzouki stated in the report.

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